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August 6, 2009

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Beauty parlor swindler executed

AN intermediate court in eastern China yesterday supervised the execution of a beauty parlor owner who was convicted of fraud and illegally raising more than 700 million yuan (US$103 million).

Before the execution of Du Yimin, 44, a native of Jinyun County, the Intermediate People's Court of Lishui City, Zhejiang Province, held an open hearing to read out the Supreme People's Court approval of the execution.

Du, who also ran Yicheng Investment Management Co Ltd, was charged with raising money illegally by promising high returns from 2003 to 2006.

The Intermediate People's Court of Lishui City said hundreds of investors had been duped, and Du spent much of the money buying apartments, cars and luxury items. Up to 128 million yuan has not been recovered.


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